International Game Technology (IGT) recently announced that its led consortium LottoItalia has successfully passed the technical and economic assessment of the lottery license bid by the Italian Customs and Monopoly Agency (ADM), and is expected to receive official authorization within 35 days.
This concession will last until 2034, marking that IGT and its partners will continue to dominate one of the world's most important lottery markets in Italy.
It is reported that the LottoItalia consortium, composed of IGT, Allwyn, Arianna 2001, and Novomatic Italia, has raised up to 2.23 billion euros (approximately 2.51 billion US dollars) for this license. IGT revealed in its latest financial report that it has specifically reserved 500 million euros to support the operation and development of the Italian lottery business.
This substantial investment demonstrates the company's long-term confidence in the Italian market. IGT CEO Vince Sadusky stated: "This investment will significantly enhance our revenue and profit potential. In the future, we will launch innovative products, promote the growth of lotto betting, and greatly increase iLottery sales, while expanding B2C iCasino and sports betting digital businesses."
IGT Executive Chairman Marco Sala emphasized: "The Italian lotto concession is one of the most valuable lottery contracts globally. IGT and its predecessor companies have successfully operated the license for over 30 years, winning sustained trust through technological innovation. We are honored to continue our cooperation with ADM, and in the next nine years, we will further optimize the lottery experience." The only competitor in this bid, Flutter Group's Sisal, was unsuccessful, further consolidating IGT's dominant position in the Italian lottery market.
It is worth noting that IGT's recent business expansion momentum is strong. At the beginning of May, it was certified by the UAE gambling regulatory authority GCGRA, becoming a legal gambling equipment supplier in the country. However, consortium member Allwyn is facing regulatory scrutiny in the UK market and may be penalized for failing to fulfill the obligations of the UK lottery contract. Allwyn CEO Robert Chvatal is still looking forward to the cooperation with Italy: "We are delighted to continue our nine-year partnership with IGT, injecting European lottery modernization experience into the Italian market, and jointly promoting innovation and responsible gambling development."
This renewal not only continues IGT's traditional advantage in the Italian lottery market but also provides a long-term development platform for its digital strategy. With the new license in place, Italian players will welcome a richer array of lottery products and innovative gaming experiences.
